Shares in the world’s largest pure-play med-tech firm hit $41.57 – a 52-week high – on their way to a $41.45 close on Wall Street yesterday afternoon, ending the trading day up 1.5%. Since August 22, 2011, MDT shares have gained 32.5%.
Medtronic in May posted a 28% profit surge during its fiscal 4th quarter profits, beating Wall Street’s expectations by a penny on sales growth of 4.4%.
Analysts on The Street are expecting Medtronic to post adjusted earnings per share of 85¢.
Special attention will be paid today to Medtronic’s bread-and-butter cardiac rhythm management numbers, seen as a bellwether for the CRM market as a whole, and to its spine business. Both sectors have slumped since the economic downturn began as the oughts wound down.